Permitted Lease definition

Permitted Lease means a lease permitted under Section 4.02(b) of the Trust Indenture.

Permitted Lease means a lease and occupancy agreement pursuant to the form approved by Funding Lender, to a residential tenant in compliance with the Legal Requirements, providing for an initial term of not less than six (6) months nor more than two (2) years.

Permitted Lease means (a) each Existing Lease (including any renewal or extension thereof to the extent such renewal or extension complies with clauses (i), (iii), (iv) and (v) below) and (b) any agreement (other than an Existing Lease) constituting a Lease that meets all of the following requirements:

Examples of Permitted Lease in a sentence

• The terms of the Pro Forma Lease may be revised from time to time by the Manager, provided that any such revisions shall be consistent with a Lease originated thereunder being a Permitted Lease.

• Except where a Railcar is being conveyed on a Closing Date and the related Series Supplement references this Section 5.01(w) and permits an exception hereto, each Railcar Conveyed on the relevant Delivery Date is subject to a Permitted Lease, which Lease (together with the other Leases that are or have been the subject of such Conveyances) contains rental and other terms which are no different, taken as a whole, from those for similar railcars in the Servicer’s Fleet.

• The terms of the Pro Forma Lease may be revised from time to time by the Servicer, provided that any such revisions shall be consistent with a Lease originated thereunder being a Permitted Lease.

• After giving effect to the transfers contemplated under the Operative Agreements, (i) the Leases being Conveyed to the Issuer on any applicable Delivery Date (as evidenced by the Riders or Schedules with respect thereto) are not subject to and do not cover railcars financed in, any financing or securitization transaction other than the transactions contemplated by the Operative Agreements and (ii) such Leases conform to the definition of Permitted Lease.

• Each Railcar Conveyed on the relevant Delivery Date is subject to a Permitted Lease, which Lease (together with the other Leases that are or have been the subject of such Conveyances) contains rental and other terms which are no different, taken as a whole, from those for similar railcars in the TILC Fleet.

More Definitions of Permitted Lease

Permitted Lease means a lease and occupancy agreement pursuant to the form approved by Funding Lender, to a residential tenant in compliance with the Legal Requirements, providing for an initial term of not less than six months or more than two years.

Permitted Lease is a lease permitted under Section 3.02(b)(iv) hereof.

Permitted Lease a lease or sublease permitted under Section 4.2(b) of the Mortgage. Permitted Lessee: the lessee under a Permitted Lease.

Permitted Lease means a lease (including a sublease) permitted under Section 3.02(b)(viii) of the Mortgage.

Permitted Lease means a lease permitted under Section 2.01(a) hereof.

Permitted Lease shall have the meaning given to such term in Section 7.4.

Permitted Lease means a lease and occupancy agreement in the form approved by the Funding Lender, to a residential tenant in compliance with the Legal Requirements, providing for an initial term of not less than six months or more than one year.